Question

You are analyzing your advertising expenses. You have a print ad in the apartment guide. Rental magazine, that costs $900 per month. You also have an ad on the apartment com. Website that cost $224 per month. You have tracked your call show. In lease, traffic and have determined that you conducted 6 shows in rented to 3 residents who stated they saw you first in apartment guide. You also had 10 emails and 3 follow-ups. Renting to 2 of these prospects who came from apartment com. Website, calculate your cost per lease. In dollars, from each source

Answer 1

To calculate the cost per lease for each advertising source, we need to follow these steps:

1. **Determine the total advertising costs for each source.**
2. **Identify the number of leases generated from each source.**
3. **Calculate the cost per lease for each source.**

### 1. Total Advertising Costs

- **Apartment Guide (print ad):** $900/month
- **Apartment.com (website ad):** $224/month

### 2. Leases from Each Source

- **Apartment Guide:** 3 leases
- **Apartment.com:** 2 leases

### 3. Cost Per Lease Calculations

**Apartment Guide:**
- Total Cost: $900
- Leases: 3
- Cost per Lease: \( \frac{900}{3} = 300 \) dollars per lease

**Apartment.com:**
- Total Cost: $224
- Leases: 2
- Cost per Lease: \( \frac{224}{2} = 112 \) dollars per lease

### Summary of Cost Per Lease

- **Apartment Guide:** $300 per lease
- **Apartment.com:** $112 per lease

These calculations show that the advertising expense for each lease from Apartment Guide is significantly higher than that from Apartment.com.